The US government has announced a final Social Security payment of $4,873 for eligible beneficiaries on December 11, 2024. This payment, part of the regular Social Security schedule, is critical for those in specific groups, including retirees, disabled individuals, and survivors.
With the year coming to a close, understanding your eligibility and payment schedule is essential to maximize this benefit.
Who Will Receive the $4,873 Payment?
The December 11 payment is specifically allocated for beneficiaries born between the 1st and 10th of any month.
These individuals are part of Group 2 in the Social Security Administration’s (SSA) structured payment calendar. Payments are distributed according to the following criteria:
| Birth Date | Payment Date |
|---|---|
| 1st–10th of the month | December 11, 2024 |
| 11th–20th of the month | December 18, 2024 |
| 21st–31st of the month | December 25, 2024 |
For beneficiaries in Group 1, including those who began receiving benefits before May 1997, payments were already made on December 3, 2024.
Additional December Payment: Supplemental Security Income (SSI)
Beyond the standard Social Security payments, beneficiaries receiving Supplemental Security Income (SSI) will get their January 2025 payment early on December 31, 2024. This early disbursement is designed to ensure recipients have financial support as the new year begins.
Maximizing Your Social Security Benefits
To make the most of your Social Security payments, it’s essential to follow strategic planning. Below are some proven ways to increase your benefit amount:
1. Delay Retirement
- Full Retirement Age (FRA): For individuals born in 1960 or later, FRA is 67 years.
- Benefit Increase: For every year you delay claiming benefits beyond FRA, payments increase by approximately 8%, up to age 70.
2. Work for at Least 35 Years
- The SSA calculates benefits based on your 35 highest-earning years.
- If you have fewer than 35 years of earnings, the missing years are calculated as zeros, reducing your average earnings and benefit amount.
3. Maximize Taxable Income
- Earnings Cap: For 2024, the taxable income cap for Social Security is $160,200.
- Higher earnings within the cap directly increase your benefit calculation.
4. Consider Spousal Benefits
- Spouses may be eligible to claim up to 50% of the higher earner’s benefit.
- This strategy can significantly boost household income during retirement.
5. Understand Tax Implications
- Up to 85% of your Social Security benefits may be taxable if your income exceeds certain thresholds.
- Planning your withdrawals from retirement accounts can help minimize tax liabilities.
The $4,873 December 11 payment is a vital lifeline for eligible Social Security beneficiaries, helping to close out the year with financial security. By understanding your eligibility, staying informed of payment schedules, and employing strategies to maximize your benefits, you can ensure a stable and comfortable future.
As the holiday season approaches, this final Social Security payment provides an opportunity to plan ahead for 2025 while enjoying peace of mind.
Whether you’re already receiving benefits or just beginning your journey with Social Security, these payments demonstrate the importance of proactive financial planning.
FAQs
Who is eligible for the December 11 payment?
Individuals born between the 1st and 10th of any month who are currently receiving Social Security benefits qualify for this payment.
How much is the maximum Social Security payment in December?
The maximum payment for high earners who delayed retirement until age 70 is $4,873. Actual amounts vary based on earnings history and age of claiming.
What happens if I don’t receive my payment on the scheduled date?
If you don’t receive your payment, contact the Social Security Administration (SSA) immediately. Verify your bank details and ensure your personal information is up to date on the SSA portal.
